FILE:  DG

Cf:  DFL

DEPOSITORY OF FUNDS

The West Baton Rouge Parish School Board shall select a depository on an annual basis which shall provide the most efficient and otherwise desirable services for the Board.   All funds of the Board shall be deposited to the account(s) of the Board in the official depository.  All funds, except demand deposits under the control of the Board, shall be placed in interest bearing accounts at an interest rate not less than twenty-five percent (25%) below the discount treasury bill rate with regard to treasury bills of comparable maturity on deposit with the parish or state banks, national banks, or investments in obligations guaranteed by the federal government.

All monies retained in school buildings shall be safeguarded in secure areas at all times.  However, the Board shall not assume responsibility for funds lost in a school. 

The Board requires that school funds shall be deposited on a daily basis.

Ref:    La. Rev. Stat. Ann. §§17:95, 39:1211, 39:1212, 39:1220

West Baton Rouge Parish School Board